LightPath Secures $2M Line of Credit
ORLANDO, Fla., Oct. 10, 2013 — Optical components maker LightPath Technologies Inc. has secured a $2 million line of credit, half of which it will use to purchase equipment, the company said recently.
The remaining $1 million of the credit, financed through Avidbank Corporate Finance of Palo Alto, Calif., will be used for working capital.
"The ability to establish this type of credit facility signals the progress LightPath has made and the sustainability of our growing business," said LightPath President and CEO Jim Gaynor, adding that it "will provide us flexibility to meet any potential liquidity issues as we grow our business."
LightPath provides optics and photonics products for the industrial, defense, telecommunications, test and measurement, and medical industries.
For more information, visit: www.lightpath.com